The growth of the building and construction sector complements the demand for Geosynthetic materials to be used in these applications driving the global Geosynthetics Market.
JERSEY CITY, N.J., Oct. 28, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Geosynthetics Market" By Function (Separation, Drainage, Filtration), By Application (Road & Pavements, Drainage Systems, Containment & waste Water, Water Management), and By Geography. According to Verified Market Research, the Global Geosynthetics Market size was valued at USD 8.85 Billion in 2020 and is projected to reach USD 13.73 Billion by 2028, growing at a CAGR of 5.56% from 2021 to 2028.
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Browse in-depth TOC on "Geosynthetics Market"
202 - Pages
126 – Tables
37 – Figures
Global Geosynthetics Market Overview
Geosynthetics have penetrated in several sectors in the recent past. Geosynthetics are used as filtering elements in drainage systems that improve filtration performance by producing continuous filaments of polypropylene. These fabrics are employed as filtration systems to ensure maximum harmful elements are trapped and not released to the environment in water bodies and soil. Geosynthetics are also mixed with asphalt to increase the cracking resistance by reinforcing the asphalt and providing stiffness in the roadway construction. In dam construction, these are employed to reduce the erosion potential of water as the water flows along the geonet which increases the lifespan of the dam. Geomembranes on the other hand are plastic sheets that are employed in landfill, canal, and tunnel lining applications in order to hold the top surface in its place and avoid felling of debris.
Thus, it performs a critical function to make these sites safe for human use and increases life. Geocells are employed in construction works to control erosion on steep slopes, retaining walls and act as a sub-base support to railway tracks, road bases, etc., as it has that ability to spread loads over a larger area. The increase in government spending to improve infrastructure in many countries to raise the standard of living coupled with the increase in industrialization has uplifted the growth of the building and construction sector. Also, increasing norms for environmental safety to reduce sediment control and land erosion have positively impacted the demand for Geosynthetics. These factors combined with the several benefits combinedly leads to the growth of the Geosynthetic market.
Key Developments in Geosynthetics Market
In August 2021, The International Geosynthetics Society (IGS) announced to launch of the new website. The new website aims to give greater access to users to a range of resources with interactive elements, and member-only features to strengthen networking.
In June 2021, Tensar International Corp. to host InterAxion Conference which focused on launching and infrastructure of new geogrid named as InterAx. It is an advanced geogrid that provides a longer-lasting infrastructure.
In 2019, Huesker launched ecoLine geogrids which are made from 100% recycled polyethylene terephthalate (PET) in the market. With this new product company focuses on environmentally friendly solutions that save natural resources.
The major players in the market are Tenax Corporation, GEO Synthetics LLC, NAUE GmbH & Co. KG, Huifeng Geosynthetics, Low & Bonar Plc., TenCate Geosynthetics, Polymer Group, Inc., GSE Environmental, LLC.
Verified Market Research has segmented the Global Geosynthetics Market On the basis of Function, Application, and Geography.
Geosynthetics Market, By Function
Geosynthetics Market, By Application
Geosynthetics Market by Geography
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